Sunstone Hotel Investors Inc. (SHO) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “Sunstone Hotel Investors, Inc. is a Southern California-based lodging real estate company that expects to qualify as a real estate investment trust for federal income tax purposes. The Company owns hotels primarily in the upper-upscale and upscale segments primarily operated under franchises owned nationally-recognized companies, such as Marriott, Hilton, InterContinental and Hyatt. “
Other equities analysts have also recently issued reports about the company. Canaccord Genuity reissued a buy rating on shares of Sunstone Hotel Investors in a report on Tuesday, August 16th. FBR & Co set a $16.00 price target on Sunstone Hotel Investors and gave the stock a buy rating in a report on Thursday, August 11th. TheStreet raised Sunstone Hotel Investors from a hold rating to a buy rating in a report on Tuesday, August 9th. Citigroup Inc. boosted their price target on Sunstone Hotel Investors from $13.50 to $14.00 and gave the stock a neutral rating in a report on Monday, August 22nd. Finally, Morgan Stanley cut Sunstone Hotel Investors from an equal weight rating to an underweight rating and set a $11.00 price target for the company. in a report on Monday, September 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $14.14.
Sunstone Hotel Investors (NYSE:SHO) opened at 13.56 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 9.05 and a beta of 1.08. The company’s 50-day moving average price is $12.94 and its 200 day moving average price is $12.78. Sunstone Hotel Investors has a 1-year low of $9.53 and a 1-year high of $14.82.
Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm earned $303.30 million during the quarter, compared to analysts’ expectations of $306.82 million. Sunstone Hotel Investors had a return on equity of 14.50% and a net margin of 27.94%. Sunstone Hotel Investors’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts expect that Sunstone Hotel Investors will post $1.18 earnings per share for the current fiscal year.
In related news, COO Marc Andrew Hoffman sold 10,000 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $13.92, for a total value of $139,200.00. Following the transaction, the chief operating officer now owns 236,709 shares in the company, valued at $3,294,989.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in SHO. BNP Paribas Arbitrage SA boosted its stake in shares of Sunstone Hotel Investors by 6,324.8% in the second quarter. BNP Paribas Arbitrage SA now owns 10,087 shares of the company’s stock valued at $122,000 after buying an additional 9,930 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sunstone Hotel Investors by 7.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,331 shares of the company’s stock valued at $125,000 after buying an additional 732 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Sunstone Hotel Investors during the third quarter valued at about $131,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Sunstone Hotel Investors during the second quarter valued at about $139,000. Finally, Nuveen Fund Advisors LLC purchased a new stake in shares of Sunstone Hotel Investors during the second quarter valued at about $155,000.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a self-managed and self-administered real estate investment trust (REIT). The Company’s business is to acquire, own, asset manage and renovate full-service hotel and select focus-service hotel properties in the United States. The Company operates through hotel ownership segment.
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